Questions and Answers: Drybrook leasehold conveyancing
Estate agents have just been given the go-ahead to market my garden flat in Drybrook.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold flat in Drybrook. Conveyancing and Santander mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Drybrook who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Drybrook conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to choosing a Drybrook conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Drybrook conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Drybrook conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
Can you provide any advice for leasehold conveyancing in Drybrook with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Drybrook can be avoided where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
- Many landlords or managing agents in Drybrook charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Drybrook.
What makes a Drybrook lease defective?
There is nothing unique about leasehold conveyancing in Drybrook. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Barnsley Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
Leasehold Conveyancing in Drybrook - A selection of Queries before buying
Be sure to find out if the the lease includes any adverse restrictions in the lease. For instance it is reasonably common in Drybrook leases that pets are not permitted in in a block in Drybrook. If you love the flatin Drybrook but your cat can’t live with you then you will be presented with a difficult determination.
Is the freehold owned jointly by the leaseholders?
How long is the Lease?